NYSE$UMH
UMH Properties Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported solid operating results with a strong start to 2023.
UMH Properties reported a 15% increase in total income, driven by increased sales of manufactured homes and occupancy gains. Same property operating results are in line with expectations, with revenue increasing by 6.1% and NOI growing by 5.6%.
- Total Income increased by 15% to $52.6 million compared to the same quarter last year.
- Net Loss Attributable to Common Shareholders was $5.3 million, or $0.09 per diluted share.
- Funds from Operations (FFO) was $10.6 million, or $0.18 per diluted share, a 13% increase per diluted share.
- Normalized Funds from Operations (Normalized FFO) was $11.7 million, or $0.20 per diluted share, a 5% increase per diluted share.
Headline financials
Revenue & EPS history
UMH Properties · Revenue · Quarterly
$52.6M
Forward guidance
UMH Properties anticipates high single digit NOI growth this year, driven by occupancy gains and available inventory. The company expects significant earnings growth due to new home inventory.
Tailwinds
- Demand for affordable housing in UMH's markets remains robust.
- Converting homes in inventory to rental units and increasing sales of manufactured homes.
- Availability of inventory in good locations gives the ability to achieve high single digit NOI growth.
- New home inventory in place will allow to drive significant earnings growth this year.
- Backlogs have subsided, allowing for faster order fulfillment and reduced inventory carrying costs.
Headwinds
- Interest costs are currently impacting results.
- Elevated interest expense.
- Net Loss Attributable to Common Shareholders amounted to $5.3 million.
- Expense growth of 6.8%.
- One year ago, results were impacted by a lack of inventory for sale and rent which resulted in limited revenue growth for most of last year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.1%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.5%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+8.0%
Q4 2023
Best reaction
-7.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +1.8% | -2.6% | |
| Q4 2025 | -2.6% | -6.9% | -11.6% | |
| Q3 2025 | -1.2% | +3.5% | +4.2% | |
| Q1 2025 | -0.3% | -2.6% | -5.5% | |
| Q4 2024 | +2.9% | +3.4% | +3.7% | |
| Q3 2024 | +1.4% | +4.6% | +3.1% | |
| Q2 2024 | +4.9% | +5.8% | +8.5% | |
| Q1 2024 | -2.8% | -0.5% | -4.3% | |
| Q4 2023 | +8.0% | +13.2% | +13.9% | |
| Q3 2023 | -1.7% | -4.3% | +0.1% | |
| Q2 2023 | -3.4% | -2.7% | -9.5% | |
| Q1 2023 | +3.0% | +2.3% | +6.6% | |
| Q4 2022 | -7.4% | -3.0% | -14.8% | |
| Q3 2022 | -3.1% | +4.1% | -2.0% | |
| Q2 2022 | -2.0% | -3.0% | -14.7% | |
| Q1 2022 | -7.9% | -11.7% | -14.8% | |
| Q4 2021 | +1.3% | -1.1% | +2.9% | |
| Q3 2021 | -0.5% | -0.9% | -3.5% | |
| Q2 2021 | +3.7% | +4.1% | +7.8% | |
| Q1 2021 | +2.4% | +0.8% | +1.3% | |
| Q4 2020 | +3.2% | +7.0% | +6.1% | |
| Q3 2020 | -0.7% | -0.1% | +5.7% | |
| Q2 2020 | +4.6% | +8.8% | +14.8% | |
| Q1 2020 | +7.0% | -0.9% | +16.2% | |
| Q4 2019 | -2.2% | -17.1% | -36.3% | |
| Q3 2019 | +2.6% | +4.4% | +6.7% | |
| Q2 2019 | -3.7% | -3.7% | +2.9% | |
| Q1 2019 | -0.1% | -5.9% | -4.7% | |
| Q4 2018 | -3.1% | -1.4% | +1.3% | |
| Q3 2018 | -7.3% | -6.8% | -9.1% | |
| Q2 2018 | +2.7% | +1.0% | +4.5% | |
| Q1 2018 | +1.3% | -1.9% | +3.6% | |
| Q4 2017 | +0.2% | +5.5% | +7.5% | |
| Q3 2017 | +2.9% | +2.5% | +2.8% | |
| Q2 2017 | +2.1% | -3.1% | -0.6% | |
| Q1 2017 | +4.5% | +0.7% | +7.4% | |
| Q4 2016 | -2.9% | -2.4% | +7.3% | |
| Q3 2016 | +1.5% | +9.5% | +12.7% | |
| Q2 2016 | +2.2% | +5.8% | +0.8% | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | +2.7% | — | — | |
| Q3 2015 | +0.8% | — | — | |
| Q2 2015 | +0.1% | — | — | |
| Q1 2015 | +2.4% | — | — | |
| Q4 2014 | +1.3% | — | — | |
| Q3 2014 | -2.1% | — | — | |
| Q2 2014 | +1.5% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | -0.3% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | +1.0% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q3 2012 | -4.9% | — | — | |
| Q2 2012 | -2.1% | — | — | |
| Q1 2011 | -2.1% | — | — | |
| Q1 2012 | +2.6% | — | — | |
| Q4 2011 | -3.1% | — | — | |
| Q4 2009 | -3.1% | — | — | |
| Q3 2010 | -0.1% | — | — | |
| Q3 2011 | -0.1% | — | — | |
| Q4 2010 | -2.8% | — | — | |
| Q2 2011 | -2.8% | — | — | |
| Q2 2010 | -2.8% | — | — | |
| Q1 2010 | -2.3% | — | — |
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